• October is a platform for European SME companies.
  • The projects for which SMEs borrow on October are categorized in 'Moments of Life'.
  • SMEs pick October to receive funds quickly, diversify sources of funding and avoid (personal) guarantees.

Banks generally prefer to finance durable goods (vehicles, machinery, equipment, etc.). October also offers financing for intangible needs (recruitment, communication, innovation, etc.) or for the activity (working capital requirements). October is there to finance the moments of life that are specific to business growth.

The 9 most common moments of life that SMEs come to October for are:

  • Digitization is a moment when a SME implements new digital tools to increase its productivity and modernize its practices.
  • Internationalization enables SMEs to grow its business by expanding into new markets. This can be done by developing the commercial operations abroad or developing a new production unit for a specific country. 
  • Refinancing can help SMEs recapitalize by replacing an existing loan with a new one. This can enable lower monthly payments and lower interest rates. 
  • Through commercialization, SMEs can attract new clients by launching new marketing campaigns. A successful campaign can bring its brand, products or services to the attention to potential customers and contribute to the growth of your company. 
  • Transformation is key for SME working in the catering, tourism or retail sectors. They can transform the experience of their clients by renovating their hotel, restaurant or shop for example. 
  • Recruitment is used to grow the company’s workforce and production capacity. Expanding the team is an essential step for SMEs to achieve their business goals.
  • Optimizing the production of a company with process improvements and new machinery can boost productivity and increase profit margins.
  • A business acquisition can enable SMEs to grow their business in a quicker and more profitable manner than normal. The process of acquiring a company is usually used to increase market share through access to an existing network, reach new markets, achieve synergies or economies of scale. 
  • Sustainability is becoming a more and more important factor for companies nowadays. Companies are actively trying to improve their ecological footprint by investing in sustainable projects. It is important though that these new projects are economically viable, socially responsible and environmentally friendly.

Examples of projects that October finances:

  • Acquisitions, share buybacks, acquisition of businesses, LBOs,
  • Intangible investments: recruitment, commercial development, international development, communication expenses, digitalisation, R&D
  • Refinancing of partners' current accounts, bond debts or vendor credits
  • Purchases of material assets: machines, vehicles, atypical assets
  • Renovation and fitting-out work

Some examples by Industry type:

For trade and industry

In trade and industry, companies may express the need to optimize their production with the aim of increasing productivity and profit margins. This may involve process improvements and the acquisition of new machinery or inventory.

  • Eldim is a company that markets technologies to the world's leading manufacturers. In 2017, Eldim borrows from October to finance new inventory. In only seven days, Eldim manages to collect €1M on the platform and thus ensures the delivery of a large order from Apple.

They can put in place new digital tools and modernize their practices to increase their productivity: digitalize. Companies can turn to October to finance their digitalisation.

  • The family business Holbox, specialized in POS design, borrowed 1M€ from October to finance the purchase of a new online shop and software.

Internationalization is also a key moment in a company's growth. It allows companies to develop their business by establishing themselves in new markets. This can be done by developing commercial operations abroad or by developing a new production unit in a specific country.

For hotels, restaurants and retail

Transformation is essential for catering, tourism or retail companies. They can transform their customers' experience by renovating their hotels, restaurants or stores for example.

This growth may also require the recruitment of new employees. Expanding the team is an essential step in enabling companies to achieve their business goals.

  • H8 Collection borrowed twice on October to acquire the equipment needed to set up a new cooking school and open a spa and to finance the renovation of a hotel in Paris.

For consulting, marketing and communication

The business acquisition process is generally used by companies to increase market share through access to an existing network, reach new markets, achieve synergies or economies of scale. By acquiring a new business, consulting, marketing or communication companies can expand their areas of expertise and thus meet the new needs of their clients.

  • Let's clic, a company specialized in paid search engine optimization, financed its external growth and the acquisition of a company specialized in SEO thanks to October.

To publicize this new service or product, these companies can then launch new marketing campaigns. A successful campaign can draw the attention of potential customers to the brand, products or services and contribute to the growth of the business.

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